Obviously, after that successful Tuesday, which was a day off “real work” Wednesday Thursday and Friday were not so good. The real stinker was Thursday, which culminated in three NZ/USD trades that are still in play, with huge s/l that would be … account changing. I’m still bearish the trade. /laughs bitterly.
So here is what I’m going to try and take forward this week:
Don’t trade drunk. Treat it like a job. A difficult job. OK, maybe this needs refining. Don’t decide strategy’s drunk. Don’t make shit up.
Don’t add to losing trades. (How do you define “losing” as opposed to “got in early just in case; I’ll add some more)
Really important: Don’t ignore conditionals when 50pips says something. The key words on Thursday were: “Hold of this break (0.7060 on Kiwi) and .69’s attract” The bread didn’t hold, I got in. Three times. Adding to a losing position.
Now. Also. I had a number of opportunities to get out of this trade with a profit. Most notably on Friday afternoon, Friday evening just before close, and again just after the open on Sunday. Am I taking this seriously, or not? If I had, the account would be up 10%, instead of 3.3%. But a bit academic, because I shouldn’t have been in the trades in the first place. What’s the expression? A bad trade that is profitable is worse than a good trade that isn’t, but was according to rules? These firmly fall into that category.